Xact Kapitalforvaltning AB Has $2.50 Million Stake in Fortive Corp (FTV)

Xact Kapitalforvaltning AB decreased its holdings in shares of Fortive Corp (NYSE:FTV) by 7.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,708 shares of the technology company’s stock after selling 2,424 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Fortive were worth $2,501,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. FMR LLC boosted its holdings in shares of Fortive by 20.0% during the second quarter. FMR LLC now owns 23,755,263 shares of the technology company’s stock worth $1,831,768,000 after purchasing an additional 3,960,523 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Fortive by 23.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,150,214 shares of the technology company’s stock worth $397,134,000 after purchasing an additional 984,564 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Fortive by 1.1% during the second quarter. Northern Trust Corp now owns 4,355,498 shares of the technology company’s stock worth $335,852,000 after purchasing an additional 47,476 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Fortive by 0.3% during the second quarter. Bessemer Group Inc. now owns 3,909,686 shares of the technology company’s stock worth $301,477,000 after purchasing an additional 13,072 shares during the last quarter. Finally, Winslow Capital Management LLC boosted its holdings in Fortive by 15.2% in the second quarter. Winslow Capital Management LLC now owns 2,970,792 shares of the technology company’s stock valued at $229,078,000 after acquiring an additional 391,138 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Shares of Fortive stock opened at $74.25 on Thursday. Fortive Corp has a twelve month low of $69.03 and a twelve month high of $88.34. The firm has a market capitalization of $23.94 billion, a P/E ratio of 21.27, a PEG ratio of 1.89 and a beta of 0.56. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.79 and a current ratio of 0.98.

Fortive (NYSE:FTV) last issued its earnings results on Thursday, October 25th. The technology company reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02). Fortive had a net margin of 15.72% and a return on equity of 24.91%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. As a group, equities research analysts predict that Fortive Corp will post 3.16 EPS for the current year.

In other Fortive news, insider William W. Pringle sold 440 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $79.38, for a total value of $34,927.20. Following the transaction, the insider now directly owns 20,626 shares of the company’s stock, valued at $1,637,291.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Raj Ratnakar sold 30,912 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $80.71, for a total value of $2,494,907.52. Following the completion of the transaction, the vice president now directly owns 13,244 shares in the company, valued at $1,068,923.24. The disclosure for this sale can be found here. Insiders sold 54,088 shares of company stock worth $4,367,194 over the last three months. 12.10% of the stock is currently owned by corporate insiders.

FTV has been the topic of a number of research analyst reports. UBS Group lifted their target price on Fortive from $86.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, August 30th. Argus lifted their target price on Fortive from $84.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, August 14th. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Monday, October 1st. Gordon Haskett initiated coverage on Fortive in a report on Friday, October 12th. They issued a “buy” rating on the stock. Finally, SunTrust Banks reduced their target price on Fortive from $92.00 to $85.00 and set a “buy” rating on the stock in a report on Monday. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $87.18.

Fortive Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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